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Rates on 30-year fixed home loans were stable in the past week. For the week ending March 15, Freddie Mac announced that 30-year fixed rates rose one tick to 4.45% from 4.44% the week before. The average for 15-year loans also increased slightly to 3.91% and the average for five-year adjustables rose to 3.68%. A year ago, 30-year fixed rates averaged 4.23%, higher than today's level. Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac -- "The Federal Reserve raised interest rates -- a much-anticipated move that comes as both U.S. and global economic fundament...

March 27th, 2018 The Markets

The Markets

Rates on 30-year fixed home loans decreased from week-to-week for the first time in 2018. For the week ending March 15, Freddie Mac announced that 30-year fixed rates fell to 4.44% from 4.46% the week before. The average for 15-year loans decreased to 3.90% and the average for five-year adjustables rose to 3.67%. A year ago, 30-year fixed rates averaged 4.30%, higher than today's level.  Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac -- "The Consumer Price Index report for last month indicated inflation may be cooling down -- as consumer price infla...

March 22nd, 2018 The Markets

The Markets

The rise in rates for home loans continued at a slower pace in the past week. For the week ending March 8, Freddie Mac announced that 30-year fixed rates increased to 4.46% from 4.43% the week before. The average for 15-year loans rose to 3.94% and the average for five-year adjustables rose one tick to 3.63%. A year ago, 30-year fixed rates averaged 4.21%, higher than today's level. Attributed to Len Kiefer, Deputy Chief Economist, Freddie Mac -- "The 10-year Treasury yield has been bouncing around in a narrow 15 basis point range for the last month. While the yield on the 10...

March 13th, 2018 The Markets

Consumer and realtor corner

Prices for Real Estate Should Keep Rising Homeowners should find their homes adding value through the rest of this decade; but that means more pressure on affordability for buyers. A new report from independent mortgage insurer Arch MI calls for prices to rise 2-6% in each of the next two years. “With interest rates and home prices both on the rise, first-time homebuyers – largely Millennials – may want to consider making the jump from renting to owning sooner rather than later,” said Dr. Ralph G. DeFranco, Global Chief Economist, Mortgage Services, Arch Capital Serv...

March 11th, 2018 Consumer and realtor corner